ADB lauds govt’s economic achievements

ISLAMABAD, June 20 (APP): The Asian Development Bank (ADB)
Vice President here on Monday lauded the economic achievements of
the present government, saying the country had undoubtedly made
noticeable progress in achieving macro-economic stability.

“There is significant increase in forex reserves, inflation is down considerably compared to the situation in early 2013. Given
the global situation, the GDP growth is also quite satisfactory”,
Zhang added.

He was talking to Finance Minister Senator Muhammad Ishaq Dar here. ADB’s Country Director Werner Liepach was also present in the meeting, said a Finance Ministry press statement.

The ADB Vice President said financing for reforms in public sector enterprises had been enhanced from USD 150 million to USD 300 million.

The Finance Minister shared with Zhang the details of the
current state of national economy. The economic reforms were on
track and had started to pay dividends, he added.

Referring to recent upgrade by MSCI, he said marked improvement in economic conditions in the country was being acknowledged globally.

He said the government had presented a budget which would provide stimulus to agriculture and industrial sectors, besides encouraging foreign investment.

This, he said, would help in achieving the goal of inclusive growth.

He said the government had in focus activation of the Pakistan Macrofinance Investment Company in the first quarter of next fiscal year.

He also hinted at operationalization of Pakistan Development Fund and invited ADB to participate in the Fund.